Make Your Tech Work For You
There are apps for everything nowadays, including money management. There are apps that help you budget, apps that offer discounts and savings, and even apps that communicate with you using artificial intelligence to give you personalized financial advice. So, do yourself a favor and put all these apps to good use in your life.
Always Round Up
Whether you’re paying off bills and debts, or depositing money, always do yourself the solid of rounding up. If you have a bill for $176.89, pay $180. If you recently got $40 you want to put away in your savings, try to round up to an even $50. You’d be amazed at how quickly it all starts to add up, and whittle your debts down!
Get A Side Hustle
No one is ever too busy to make a little extra income. Whether you choose to rent out an extra room you don’t use in your home/apartment, start driving for a rideshare service on the weekends, or using your spare time to create a business out of your passion, side hustles can be an extremely flexible way of earning a little extra money.
If there are things in your home you haven’t seen, used, or even thought about it in several weeks/months, there’s a good chance you wouldn’t miss it if it were gone. So, earn a little extra cash by getting rid of some of it. If you have a lot of different things you can part with, have a yard sale. Or, just start listing things online and see what offers come your way. Clothes, shoes, kitchen items, old décor, antiques – everything has value!
Make It Yourself
Whether it’s fancy coffee in the morning from your favorite barista, eating lunch out with co-workers, or enjoying drinks after work a few nights a week, everyone has their vice. If you’re serious about saving though, you really have to start limiting how much you eat, and drink, away from home. Homemade is not only cheaper, but it’s often better for you anyway.
There are countless ways to get thrifty when you’re pinching pennies; it’s all about finding what works best for you. If you’re on the road a lot, making sure your tires are properly inflated to save on fuel, or carpooling, might be great options for saving more. You can also buy generic, or used, items to cuts costs on necessary purchases, like food and clothes. You can even reduce the cost of utilities by reducing your water heater pressure, switching out light bulbs for energy saving ones, unplugging appliances not in use, insulating your windows, getting a programmable thermostat, and sharing entertainment.
Invest In Higher Quality
If you’re the type of person to always buy the cheaper option of something because you buy it so much, stop and consider what your buying, and how splurging a little more might just be able to help you save. Shoes, electronics, HVAC systems, and even batteries are just a few examples of things worth spending a little more on because it means they will last much longer.
Consolidate Your Debts
If you have a lot of different debts, consolidation can be a great option for you because it will mean reducing your interest greatly. Plus, rather than needing to remember to pay off a bunch of different accounts every month, you’ll only have to worry about your one payment!
Start Planning, Investing, & Saving
If you want to achieve the future you have in mind for yourself, you have to stop daydreaming and start actively planning how you’re going to make it happen. This means, tracking your spending, putting as much away into savings as you can, learning how to safely invest your money so you can earn more passively, and coming up with discernible plan of attack for retirement. The sooner you starting thinking about all of this, the sooner your financially free future will be yours.
Be Ready For An Emergency
No matter how stable things might seem now, for many people all it takes is one accident, illness, or unexpected expense to completely set them back. That means, in order to truly save yourself a whole lot of money, one of your biggest priorities should be having a decent amount of money saved away for emergencies. Whether for you that means having a few thousand dollars set aside for flat tires and urgent care visits, or making sure you have enough to live off of for several months should you be unable to work, you will never regret being more prepared.
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